Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Thursday . The stock had previously closed at $7.26, but opened at $6.96. First Majestic Silver shares last traded at $6.62, with a volume of 3441539 shares trading hands.
Several analysts have recently issued reports on the stock. ValuEngine raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of First Majestic Silver in a research report on Monday, December 17th. B. Riley started coverage on shares of First Majestic Silver in a research report on Friday, March 1st. They set a “neutral” rating and a $6.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.50 price target on shares of First Majestic Silver in a research report on Tuesday, January 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $8.00.
The company has a current ratio of 2.86, a quick ratio of 2.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -32.00 and a beta of -0.13.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Monday, February 25th. The mining company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). First Majestic Silver had a negative net margin of 67.85% and a negative return on equity of 5.77%. The firm had revenue of $74.10 million during the quarter, compared to analysts’ expectations of $116.30 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 21.1% on a year-over-year basis. As a group, analysts predict that First Majestic Silver Corp. will post 0.08 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new position in First Majestic Silver in the 4th quarter valued at about $2,346,000. Legal & General Group Plc boosted its position in First Majestic Silver by 6.9% in the 4th quarter. Legal & General Group Plc now owns 49,824 shares of the mining company’s stock valued at $293,000 after buying an additional 3,224 shares during the last quarter. IHT Wealth Management LLC purchased a new position in First Majestic Silver in the 4th quarter valued at about $70,000. Cipher Capital LP purchased a new position in First Majestic Silver in the 4th quarter valued at about $624,000. Finally, Old West Investment Management LLC purchased a new position in First Majestic Silver in the 4th quarter valued at about $1,178,000. 26.44% of the stock is owned by institutional investors.
First Majestic Silver Company Profile (NYSE:AG)
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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